Common use of Maintenance of Loan Account Clause in Contracts

Maintenance of Loan Account. The Lender shall maintain on its books and records a loan account (the “Loan Account”) in respect of the Borrowers which shall reflect: (i) with respect to the Loan: (x) the outstanding balance of the Loans to the Borrowers, (y) accrued interest on the Loans payable by the Borrowers, and (z) all other Obligations of the Borrowers that have become payable hereunder. Such entries by the Lender shall not be a condition to any Borrower’s obligation to repay the Obligations. Each entry by the Lender in the Loan Account shall be, to the extent permitted by applicable Law and absent manifest error, prima facie evidence of the data entered.

Maintenance of Loan Account. The Lender shall maintain on its books and records a loan account (the “Loan Account”) in respect of the Borrowers which shall reflect: (i) with respect to the Loan: (x) the outstanding balance of the Loans Loan to the Borrowers, (y) accrued interest on the Loans Loan payable by the Borrowers, and (z) all other Obligations of the Borrowers that have become payable hereunder. Such entries by the Lender shall not be a condition to any Borrower’s obligation to repay the Obligations. Each entry by the Lender in the Loan Account shall be, to the extent permitted by applicable Law and absent manifest error, prima facie evidence of the data entered.